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ICICI Bank is India's second-largest bank with total assets of Rs. 3,997.95 billion (US$ 100 billion) at March 31, 2008 and profit after tax of Rs. 41.58 billion for the year ended March 31, 2008. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges

in terms of free float market capitalisation*. The Bank has a network of about 1,308 branches and 3,950 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management.

The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).


Turn your dream into reality. Own that new car you have always desired, with a little help from us.

We offer loans up to 100% of ‘on-road’ cost on select models, and up to 95% of the ex-showroom price on others. Our interest rates would pleasantly surprise you.

What’s more, you can take up to 7 years to repay the loan. Worried about paperwork? Relax. The process for getting a loan involves only a few simple steps and we will tailor-make the loan to suit your needs.



Eligibility Terms for your Car Loan

With ICICI Bank Car Loans, you can avail of Car Loans as well as Car Overdraft Loans as per your needs. Our eligibility criterion is given below for the two different types of loans as per your occupation.

Car Loans

 
Gross Loan Amt Processing Fee Amt Documentation Charges

<2.5 L

Rs.1750/-

Rs.350/-

2.5 L to 5 L

Rs.2250/-

Rs.350/-

5 L to 10 L

Rs.3100/-

Rs.350/-

10 L

Rs.4000/-

Rs.350/-


 

Factors affecting your Car Loan Amount

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1800 channel partners in over 1000 locations, we reach out to millions of customers and help them realise their dream of possessing a car.

We offer Car Loans for new as well as used cars as per your need. We offer a minimum of Rs. 75,000 for a used car and Rs. 1,00,000 for a new car. Higher car loan amounts are also disbursed according to the model of the car.

Car Loans

New car

  • We finance upto 95% of the ex-showroom cost of the car.
  • The Loan amount also depends on the car model. Higher loan amounts are available under specific enhanced income eligibility criteria.
  • Minimum loan amount for new car Loan is Rs.1 lac.

Loan Enhancement

  • To enhance your loan amount, the certified income of the co-applicant can be considered, if requested by the applicant.
  • The co-applicant can be the spouse or son/daughter living in the same city.
  • Similarly, in case of a partnership firm or a limited company one of the partners or a director can be taken a co-applicant / guarantor for increasing the loan amount
  • However, in both cases, the asset has to be registered in the name of a single owner, not joint ownership.

Car Overdraft

A maximum overdraft facility of upto 90% of the value of the car may be availed subject to the above limits ( Car value is determined through a valuation )

Service Charges for Car Loans

If you are looking for flexible schemes, quick processing of your loans, attractive interest rates at the click of a mouse, then your search ends here. ICICI Bank Car Loans is the No. 1 financier for car loans in the country and offers you all the above with unbelievable ease.

Our car loan interest charges differ according to the car model, the tenure of the loan, the customer and his location.


Loan Processing Fees Charges / Renewal Charges for New car

Gross Loan Amt Processing Fee Amt Documentation Charges

<2.5 L

Rs.1750/-

Rs.350/-

2.5 L to 5 L

Rs.2250/-

Rs.350/-

5 L to 10 L

Rs.3100/-

Rs.350/-

10 L

Rs.4000/-

Rs.350/-






Description of Charges Car Loans

Stamp Duty

Actuals

Prepayment Charges

At SBAR i.e. 12.25% p.a.

Above 3 yrs up to 5 yrs (for all loans)

5% on the principal outstanding

Solvency Certificate

N.A.

Charges for late payment (loans)

2% per month

Charges for changing from fixed to floating rates of interest .

N.A.

Charges for changing from floating to fixed rates of interest

N.A.

Cheque Swap Charges

Rs. 550/-

Document Retrieval Charges

N.A.

Cheque bounce charges

Rs. 200/-


Note :

  • Origination Charges are included in the Advance installments/ First installment.
  • Service Tax and other govt. taxes, levies, etc. applicable as per prevailing rate may be charged over and above these charges at the discretion of ICICI Bank.
  • The condition/IRR/PF is subjected to change and the one recorded on the agreement will be binding over this site.

Documents required for your Car Loan

At ICICI Bank Car Loans, we offer the most convenient, flexible & quick car loan at the click of a mouse. Keeping your convenience in mind, we ask you for minimal mandatory documents for the sanctioning of your car loan.

Income proof

Salaried individuals – Latest Salary slip or salary certificate. Form 16 of the previous Financial Year or latest Income Tax Returns.

Self-Employed individuals

Income Tax Returns of 2 previous financial years.

Partnership Firms, Societies & Companies

Income Tax Returns of 2 previous financial years along with Profit & Loss Account Statements and Balance Sheets of both years.

Documents supporting customer information

Identity Proof, Signature Proof and Address Proofs as per ICICI Bank norms (Our representative will help you choose suitable documents).

Other documents

Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loans | Car Overdraft.
Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed).
Our representative will help you with the formats of documents and the information required.

Application Process of your Car Loan

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1800 channel partners in over 1000 locations, we reach out to millions of customers and help them realise their dream of possessing a car.

Keep It Simple and Swift. That's the idea behind the easy and quick application process of ICICI Bank Car Loans. We have multiple channels for you to access our car loan services. You can call us on the contact numbers given below, apply online, send us an email, cal for our representative to visit you, visit our bank centre or SMS us your interest.

Car Loans | Car Overdraft

Car Loans

  • Our representative will meet you at your convenience to assist you with the documentation and other terms.
  • The loan will be disbursed within one day of submitting all the required post-sanction documents.
  • If the vehicle is readily available with the dealer, you can get your car as soon as the disbursal is made to the dealer. However ICICI Bank is in no way responsible for car deliveries as they are regulated by the car manufacturer's delivery schedules.
  • You can retain the original Registration Certificate, Invoice and the Insurance Policy. We simply require a photocopy of these documents within 30 days of getting your loan disbursement.
  • If you wish to cancel your loan application any time before the loan is disbursed, you may do so by informing the representative who has collected your documents or send us a written request.

Repayment Terms of your Car Loan

ICICI Bank Car Loans offers flexible schemes, attractive interest rates, and quick & hassle-free application process at the click of a mouse. At the same time, we ensure that the repayment terms are equally convenient for you.

ICICI Bank Car Loans offers multiple schemes and repayment options for your car loan. Repayment tenure ranges from 1 year to 7 years for new car loans. Six year and seven year loans are available for specific models. Maximum loan tenure for used car would depend on the age of the car. The car should not be more than 8 years old at the time of maturity of the loan.

Car Loans

  • Repayment tenure ranges from 1 year to 7 years for New Car Loans. Six Year and Seven year loans are available for specific models.
  • Maximum loan tenure for used car would depend on the age of the car. The car should not be more than 8 years old at the time of maturity of the loan.
  • You may change the tenure of the loan before the loan is disbursed. The interest rate & EMI would change accordingly.
  • The repayment due dates are 5th and 10th of every month and would depend on the date of disbursement. Payment due dates cannot be changed.
  • You can make the Payments through post-dated cheques (PDCs)
  • Repayment option through Direct Debit Mandates is also available for all ICICI Bank account holders.
  • Option of repaying through ECS is also available in select cities.
  • Payments through cash or credit cards are not accepted.
  • You may change the PDC's in case your Bank Account is changed . However, we would require verification of signatures by new banker. A nominal fee of Rs.750/- (Swap Charges) would be charged for exchange of cheques.
  • A full pre-payment of the loan is accepted. Part pre-payment is not allowed.
  • Service Tax will be charged as applicable.
  • We charge pre-payment fee of 5% on the outstanding principal amount,Service Tax will be charged as applicable.
  • We charge Rs.250/-per bounced cheque.

Note: All charges are subject to Service Tax as applicable.

Car Overdraft

Billing cycle

  • Statements carrying the details of your transactions with the total & minimum amount due, interest (if applicable) will be generated for a 30-day period and sent to you by the 7th of every month.
  • The due date for making the payment is the 25th of every month.

Interest chargeable

  • Interest is charged only on the amount utilized and for the period it has been utilized.E.g. - If out of the total sanctioned overdraft limit of Rs. 100,000, and you withdraw Rs. 25,000 for 14 days, you will be charged interest on Rs. 25,000 for 14 days.

Amount

On receipt of your monthly statement, you have the following payment choices:

  • Pay the full dues.
  • Pay a minimum of 5% of the total outstanding (for the previous calendar month) within the payment due date. For your convenience, this is specified separately in your monthly billing statement. The balance can be carried forward to subsequent months.
  • Pay any amount ranging from the Minimum amount due to the total amount due.

Mode

  • You can deposit your repayment cheques at any of the ICICI Bank Branches, ATM Centres or at the Cheque Drop Boxes conveniently located across your city.
  • Cash can also be deposited at any of the bank branches
  • Late Payment Charges

In case payment is not made by the due date, a late payment fee of 15% of the Minimum Amount Due, subject to a minimum Rs.150 and a Maximum of Rs.500 will be levied.



Would you prefer to go for a used car?

We are here to help you with ‘ICICI Bank Used Car Loans’. We offer up to 90% of the car value, and up to a 7-year repayment duration.

We finance cars which are up to 10 years old at the end of the loan tenure. You can also take a loan on a car you already bought or transfer your loan to ICICI Bank from another financier.



Eligibility Terms for your Car Loan

With ICICI Bank Car Loans, you can avail of Car Loans as well as Car Overdraft Loans as per your needs. Our eligibility criterion is given below for the two different types of loans as per your occupation.

Car Loans


Gross Loan Amt Processing Fee Amt Documentation Charges

<2.5 L

Rs.1750/-

Rs.350/-

2.5 L to 5 L

Rs.2250/-

Rs.350/-

5 L to 10 L

Rs.3100/-

Rs.350/-

10 L

Rs.4000/-

Rs.350/-




Factors affecting your Car Loan Amount

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1800 channel partners in over 1000 locations, we reach out to millions of customers and help them realise their dream of possessing a car.

We offer Car Loans for new as well as used cars as per your need. We offer a minimum of Rs. 75,000 for a used car and Rs. 1,00,000 for a new car. Higher car loan amounts are also disbursed according to the model of the car.

Car Loans

Used car

  • For a used car, we finance up to a maximum of 90% of the valuation of the car
  • Minimum loan amount for a used car loan is Rs. 75000/-

Loan Enhancement

  • To enhance your loan amount, the certified income of the co-applicant can be considered, if requested by the applicant.
  • The co-applicant can be the spouse or son/daughter living in the same city.
  • Similarly, in case of a partnership firm or a limited company one of the partners or a director can be taken a co-applicant / guarantor for increasing the loan amount
  • However, in both cases, the asset has to be registered in the name of a single owner, not joint ownership.

Car Overdraft

A maximum overdraft facility of upto 90% of the value of the car may be availed subject to the above limits ( Car value is determined through a valuation )

Service Charges for Car Loans

If you are looking for flexible schemes, quick processing of your loans, attractive interest rates at the click of a mouse, then your search ends here. ICICI Bank Car Loans is the No. 1 financier for car loans in the country and offers you all the above with unbelievable ease.

Our car loan interest charges differ according to the car model, the tenure of the loan, the customer and his location.


Loan Processing Fees Charges / Renewal Charges for Old car

Rs.1850/- for all the gross loan amounts.

For Special Models, 2% of the Gross Loan Amount.

Origination charges not toexceed .1% of the loan amount.






Description of Charges Car Loans

Stamp Duty

Actuals

Prepayment Charges

At SBAR i.e. 12.25% p.a.

Above 3 yrs up to 5 yrs (for all loans)

5% on the principal outstanding

Solvency Certificate

N.A.

Charges for late payment (loans)

2% per month

Charges for changing from fixed to floating rates of interest .

N.A.

Charges for changing from floating to fixed rates of interest

N.A.

Cheque Swap Charges

Rs. 550/-

Document Retrieval Charges

N.A.

Cheque bounce charges

Rs. 200/-


Note :

  • Origination Charges are included in the Advance installments/ First installment.
  • Service Tax and other govt. taxes, levies, etc. applicable as per prevailing rate may be charged over and above these charges at the discretion of ICICI Bank.
  • The condition/IRR/PF is subjected to change and the one recorded on the agreement will be binding over this site.

Documents required for your Car Loan

At ICICI Bank Car Loans, we offer the most convenient, flexible & quick car loan at the click of a mouse. Keeping your convenience in mind, we ask you for minimal mandatory documents for the sanctioning of your car loan.

Income proof

Salaried individuals – Latest Salary slip or salary certificate. Form 16 of the previous Financial Year or latest Income Tax Returns.

Self-Employed individuals

Income Tax Returns of 2 previous financial years.

Partnership Firms, Societies & Companies

Income Tax Returns of 2 previous financial years along with Profit & Loss Account Statements and Balance Sheets of both years.

Documents supporting customer information

Identity Proof, Signature Proof and Address Proofs as per ICICI Bank norms (Our representative will help you choose suitable documents).

Other documents

Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loans | Car Overdraft.
Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed).
Our representative will help you with the formats of documents and the information required.

Application Process of your Car Loan

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1800 channel partners in over 1000 locations, we reach out to millions of customers and help them realise their dream of possessing a car.

Keep It Simple and Swift. That's the idea behind the easy and quick application process of ICICI Bank Car Loans. We have multiple channels for you to access our car loan services. You can call us on the contact numbers given below, apply online, send us an email, cal for our representative to visit you, visit our bank centre or SMS us your interest.

Car Loans | Car Overdraft

Car Loans

  • Our representative will meet you at your convenience to assist you with the documentation and other terms.
  • The loan will be disbursed within one day of submitting all the required post-sanction documents.
  • If the vehicle is readily available with the dealer, you can get your car as soon as the disbursal is made to the dealer. However ICICI Bank is in no way responsible for car deliveries as they are regulated by the car manufacturer's delivery schedules.
  • You can retain the original Registration Certificate, Invoice and the Insurance Policy. We simply require a photocopy of these documents within 30 days of getting your loan disbursement.
  • If you wish to cancel your loan application any time before the loan is disbursed, you may do so by informing the representative who has collected your documents or send us a written request.

Repayment Terms of your Car Loan

ICICI Bank Car Loans offers flexible schemes, attractive interest rates, and quick & hassle-free application process at the click of a mouse. At the same time, we ensure that the repayment terms are equally convenient for you.

ICICI Bank Car Loans offers multiple schemes and repayment options for your car loan. Repayment tenure ranges from 1 year to 7 years for new car loans. Six year and seven year loans are available for specific models. Maximum loan tenure for used car would depend on the age of the car. The car should not be more than 8 years old at the time of maturity of the loan.

Car Loans

  • Repayment tenure ranges from 1 year to 7 years for New Car Loans. Six Year and Seven year loans are available for specific models.
  • Maximum loan tenure for used car would depend on the age of the car. The car should not be more than 8 years old at the time of maturity of the loan.
  • You may change the tenure of the loan before the loan is disbursed. The interest rate & EMI would change accordingly.
  • The repayment due dates are 5th and 10th of every month and would depend on the date of disbursement. Payment due dates cannot be changed.
  • You can make the Payments through post-dated cheques (PDCs)
  • Repayment option through Direct Debit Mandates is also available for all ICICI Bank account holders.
  • Option of repaying through ECS is also available in select cities.
  • Payments through cash or credit cards are not accepted.
  • You may change the PDC's in case your Bank Account is changed . However, we would require verification of signatures by new banker. A nominal fee of Rs.750/- (Swap Charges) would be charged for exchange of cheques.
  • A full pre-payment of the loan is accepted. Part pre-payment is not allowed.
  • Service Tax will be charged as applicable.
  • We charge pre-payment fee of 5% on the outstanding principal amount,Service Tax will be charged as applicable.
  • We charge Rs.250/-per bounced cheque.

Note: All charges are subject to Service Tax as applicable.

Car Overdraft

Billing cycle

  • Statements carrying the details of your transactions with the total & minimum amount due, interest (if applicable) will be generated for a 30-day period and sent to you by the 7th of every month.
  • The due date for making the payment is the 25th of every month.

Interest chargeable

  • Interest is charged only on the amount utilized and for the period it has been utilized.E.g. - If out of the total sanctioned overdraft limit of Rs. 100,000, and you withdraw Rs. 25,000 for 14 days, you will be charged interest on Rs. 25,000 for 14 days.

Amount

On receipt of your monthly statement, you have the following payment choices:

  • Pay the full dues.
  • Pay a minimum of 5% of the total outstanding (for the previous calendar month) within the payment due date. For your convenience, this is specified separately in your monthly billing statement. The balance can be carried forward to subsequent months.
  • Pay any amount ranging from the Minimum amount due to the total amount due.

Mode

  • You can deposit your repayment cheques at any of the ICICI Bank Branches, ATM Centres or at the Cheque Drop Boxes conveniently located across your city.
  • Cash can also be deposited at any of the bank branches
  • Late Payment Charges

In case payment is not made by the due date, a late payment fee of 15% of the Minimum Amount Due, subject to a minimum Rs.150 and a Maximum of Rs.500 will be levied.





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